Electroneum; An Introduction to A New Cryptocurrency
If you are reading this, then you are already familiar with cryptocurrency and its basic workings. So, we are not going to waste any time talking about the what’s, why’s and how’s. Another thing you probably know is that the sudden rise in the value of bitcoin made cryptocurrency attractive to any tech-savvy business owner and price speculator. Everybody wanted a piece of the action. However, we are not interested in discussing what you already know, let’s talk about what you don’t know; Electroneum.
What is Electroneum?
It’s a new cryptocurrency that was developed primarily by the British and launched through an Initial Coin Offering (ICO) on the 14th of September. The initial reason for the development of this cryptocurrency is an easy transaction in the mobile gaming world and in the online gambling market. Consequently, it was created to be user-friendly. All you’ll ever need for your wallet management and coin mining is your mobile phone. That’s right, it runs as an app.
Why Should You Consider Electroneum?
Apart from the novelty of this cryptocurrency, here are some of the reasons you should consider electroneum.
Designed to Dominate the Mobile
This new cryptocurrency takes a different direction from the bitcoin you are familiar with. It was built on its own unique blockchain, plus it’s an easy, secure way of making transactions from your smartphone. This singular feature makes it perfect for dominating the mobile market. The uses are endless, from buying mobile phone apps, to placing a bet on your favorite team.
Electroneum Is Easy to Use
Electroneum is incredibly easy to use. This is one point that sets it apart from other cryptocurrencies like bitcoin. According to the founder of Electroneum Richard Ells, bitcoin is quite difficult to use, the cost of a pizza using bitcoin is like 0.005BTC. With Electroneum, you would be dealing with a real-life money figure. In the words of Richard Ells, it was developed with the ordinary mobile user in mind.
It Represents an Investment Opportunity
At the end of it all, the most important thing is how much money can you make from this cryptocurrency? Speculators have an exciting option of investing in electroneum. An analysis conducted in 2016 shows that the average ROI for a hundred new coins launched on that year was 357%.
The novelty that electroneum represents has started attracting a lot of attention towards it. Perhaps, the most comforting part for investors is the fact that the new cryptocurrency is unlikely to be subject to the internal wrangling and volatility that has made an investment in other currencies a nightmare. This is believed to be due to the effective management by its tight-knit, single-minded British developers.
Let’s keep this simple. Investment in electroneum is not entirely a bad idea. The fact that it is easy to use, user-friendly, and developed to target mobile phone users makes ensures that it sticks around for a while. The possibility of making some money from this British cryptocurrency is quite intriguing.
However, you should know that, although electroneum blockchain is live, the launch of the online and mobile wallets and the mobile miner have been delayed as at when this article was written. According to the developers, this was done for security reasons and to protect your ETN.